OpenSea has made a spectacular return as the top NFT marketplace. It currently operates over 40% of the overall NFT trading volume and attracts 70% of all active NFT wallets. The release of OS2 is great news indeed! The Solana integration and the SEC abandoning its investigation into this partnership breach underscore a strong path to success. Let's be real for a second: is this "win" really a victory for all NFT artists? I don't think so. Instead, I worry that it might mask the significant challenges that so many still face. This is doubly true for those looking to enter the sector from developing markets.

Are We Forgetting Emerging Artists?

Cumulatively, NFT sales in the broader market have dropped over 90% since their peak. For example CryptoPunks had a whopping 82% increase! It’s very tempting to get caught up in all that excitement. At the same time, thousands of independent artists across Southeast Asia and other emerging markets are working hard to get noticed.

Think about it. Though OpenSea functions as a global platform, it still carries an inherent bias from the West. This makes its algorithms a kind of resource allocation tool whose emphasis prioritizes visibility over resources. As a tendency, they frequently gravitate around artists and projects who already have the highest profile.

I see a real parallel with the music industry. Just as major labels dominate the airwaves, pushing established artists to the forefront while independent musicians continue to fall by the wayside. OpenSea, perhaps unintentionally, is on its way to becoming the music industry’s version of the NFT space’s major label. Is that what we really want?

High Fees, Low Visibility, Big Problem

The cost is one of the most significant barriers to entry for emerging artists. Not only has overall sales volume decreased dramatically—with a shocking 61% decrease in Q1 2025 compared to the same quarter last year. Gas fees remain a major roadblock. For artists living in developing countries where average income levels are drastically lower, these fees become impossible to pay. It’s the equivalent of requiring a street artist to pay a hefty fee to show their work in an upscale art gallery.

Then there's the issue of visibility. OpenSea is a vast ocean of NFTs. How does an emerging artist have a chance of being discovered amidst all that noise? The platform’s search algorithms are another black box, often prioritizing well-known collections with lots of trading volume. Now, picture yourself as that same gifted digital maker from Indonesia, heart and effort invested in each project. You list it on OpenSea, only to see it buried beneath thousands of other NFTs, never reaching its intended audience. Frustrating, right?

  • High Gas Fees: Barrier to entry.
  • Algorithmic Bias: Favors established collections.
  • Visibility Issues: Difficult for new artists to get noticed.

This is where the “unexpected connection” proves important. Think about the global coffee market. We celebrate the big brands, the Starbucks and Costa Coffees, but often forget the small-scale coffee farmers in countries like Ethiopia and Colombia who are struggling to make a living. Similarly, we're celebrating OpenSea's success while potentially overlooking the struggles of the artists who make the NFT ecosystem vibrant and diverse. Digital art, of course, is where the last and ongoing injustice is playing out. You feel it, I feel it.

Culture Lost In Translation?

As much as these are daunting practical challenges, it’s the issue of cultural representation that perhaps presents the biggest challenge. NFTs are inherently cultural artifacts. Is OpenSea really doing enough to promote the vast artistic cultures of Southeast Asia, Africa and Latin America? Or is it just reinforcing Western aesthetics and narratives, full stop.

I’ve been exposed to some amazing digital art coming out of Southeast Asia that uses traditional motifs and storytelling techniques. These plays have a deep cultural resonance, born from the artists’ perspectives and experiences as members of their communities. These important nuances can be all too easily missed on a platform that’s largely optimized for a decidedly Western public. It’s similar to attempting to enjoy the intricacies of a handcrafted batik textile with an out of focus, well-traveled picture postcard.

We need to ask ourselves: are we creating a truly global NFT marketplace, or are we simply replicating existing power structures from the traditional art world? Are we, as a community, on track to do that, or are we truly putting artists from various cultures and traditions on the periphery?

NFT buyers that have joined the revolution, though—it’s a thrilling 52% increase in only the past week! We need to ensure that this growth benefits all artists, not just an elite few.

We need to be vigilant and support alternative platforms and initiatives that prioritize their platforms to be more inclusive and decentralized. We have to lift first voices for new artists up. We need to confront the algorithmic bias that privileges known or existing collections. We should hold web3 platforms like OpenSea accountable to be more transparent and fair.

It's not about tearing down OpenSea. It’s about creating a more equitable NFT space that benefits us all. It's about creating a space where artists from all backgrounds have the opportunity to thrive and share their unique perspectives with the world. Because that, ladies and gentlemen, would be real triumph.